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EU Commission Launches In-depth Probe into 2009 Loan for ZSSK Cargo
Wednesday 24 February 2010 Zoom in | Print page
Bratislava/Brussels, February 24 (TASR) - The European Commission has begun an in-depth investigation into whether a loan that Slovakia provided to the country's state-owned rail freight transport operator ZSSK Cargo Slovakia in 2009 is compatible with the EU's rules on state aid, TASR learnt from the Commission's Representation in Slovakia on Wednesday.
"At this stage the Commission believes that the loan - which the Slovak rail freight company will use to finance costs linked to the operation of the company - could constitute State aid that is incompatible with the internal market," reads a statement by the EU's executive branch.
In March 2009, the Government decided on granting a €166-million loan to ZSSK Cargo to help the company cope with financial problems.
According to the Commission, the measure might have given the company an unjustified edge over competitors.
"The launch of this in-depth investigation will allow all the interested parties to express their points of view. It does not prejudge the final decision the Commission will take," according to the statement.
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